What Should I Ask My Mortgage Servicer After Missing Payments?

What should you have ready before calling?

Gather:

• Your most recent mortgage statement
• Loan or account number
• Property address
• Payment due date
• Online account messages
• Recent letters or emails from the servicer
• Dates and amounts of recent payments
• A short explanation of what caused the missed payment
• Current household income
• Essential monthly expenses
• Insurance, property-tax, HOA or condo costs
• Any court papers or scheduled dates
• Paper or a digital note for recording the call

Use the servicer’s number from the monthly statement or verified online account.

A simple way to begin the call

Use this sample language:

“I am calling because I missed—or expect to miss—my mortgage payment. I want to understand my account status and address the situation early. Please explain what my account shows today, what amount is past due and what assistance or application process may be available.”

This is optional sample language, not a guarantee or legal statement.

Then work through the questions below.

Questions about your current account status

Ask:

• How many payments does the account show as past due?
• What date does the servicer consider the delinquency to have started?
• What is the total past-due amount today?
• What is the regular monthly payment?
• What late charges have been added?
• Are there escrow shortages or advances?
• Has the servicer paid any property taxes or insurance on my behalf?
• Are legal fees, property-inspection fees or other charges appearing on the account?
• What amount would bring the account current today?
• Can I receive an itemized breakdown in writing?

Do not assume that the balance displayed online tells the complete story.

Questions about help or loss-mitigation review

“Loss mitigation” is the servicing term for options that may help address mortgage delinquency or avoid foreclosure. It does not mean every borrower will qualify for every option.

Ask:

• Is there a loss-mitigation or hardship-assistance application available?
• What possible options can be reviewed for my loan?
• Do I need to submit one complete application, or are there separate applications?
• What documents are required?
• Is income documentation required from every borrower?
• Is a hardship explanation required?
• How should documents be submitted?
• Is there a designated upload portal, mailing address, fax number or email address?
• How will I know that the documents were received?
• How will I know whether the application is considered complete?
• Who reviews the application?
• What happens while it is being reviewed?
• When should I follow up?
• Will the decision be provided in writing?

Questions about repayment, forbearance or modification

Do not ask simply, “Can you lower my payment?” Ask what formal process applies.

Possible questions include:

• Is a repayment plan available for review?
• Is forbearance available for my hardship?
• Is a loan modification review available?
• Would missed amounts be paid immediately, over time, deferred or handled another way?
• Would the regular monthly payment change?
• Would the loan term or interest rate change?
• Are there trial payments?
• Are there deadlines for accepting an offer?
• What happens if my financial circumstances change during the review?
• Can you send the terms in writing before I agree?

A repayment plan generally involves adding part of the past-due amount to future regular payments for a period of time. Forbearance generally pauses or reduces payments temporarily, but the missed amount is not automatically forgiven. Availability and terms depend on the loan and servicer.

Questions about payoff and reinstatement

Ask:

• Can you provide an official payoff statement?
• What is the good-through date for the payoff?
• Is reinstatement available?
• What amount would be required to reinstate the loan?
• What conditions or dates apply?
• Are legal fees, escrow shortages or servicer advances included?
• Which department issues the official figures?
• How should a title or closing company request updated numbers?

An online principal balance is not necessarily the official payoff amount. The payoff may include interest, fees and other charges through a particular date.

Questions about deadlines and foreclosure status

Ask directly:

• Has the account been referred to foreclosure counsel?
• Has a foreclosure lawsuit been filed?
• Is there a case number?
• Is a foreclosure sale date visible in the servicer’s system?
• Are there application deadlines or document-request dates?
• Is there a separate attorney or foreclosure department handling the account?
• Can this information be provided in writing?

A servicer representative should not be your only source for understanding court deadlines. Foreclosure complaints, summonses, judgments, hearings and sale dates should also be reviewed with a qualified attorney.

Questions about your point of contact

Ask:

• Is a specific person or team assigned to the account?
• What department should I call?
• Is there a direct extension?
• What hours is the department open?
• What is today’s call-reference number?
• When should I expect the next communication?
• What should I do if I do not receive it?
• Who should receive updated documents?

How should you document the call?

Create this table:

After submitting documents, save the confirmation page, email, fax receipt or mailing proof.

What if you need information or believe there is an error?

You can call or write to the servicer when requesting information or disputing an error. A written request sent to the servicer’s designated address may provide additional protections. Follow the servicer’s instructions carefully and keep a complete copy.

Ask:

• Where is the designated address for information requests or notices of error?
• What identifying information must be included?
• Should supporting documents be attached?
• How will receipt be acknowledged?
• Where should follow-up questions be directed?

An attorney or HUD-approved housing counselor may help when the matter is complicated.

When should a HUD-approved housing counselor become involved?

A HUD-approved counselor may help you:

• Review the household budget
• Organize financial documents
• Understand communications from the servicer
• Prepare for a loss-mitigation conversation
• Compare home-retention resources
• Create a practical action plan

HUD-approved counseling can provide expert assistance for homeowners trying to avoid foreclosure.

What should you not assume?

• Do not assume every assistance option is available for every loan.
• Do not assume submitting documents means the application is complete.
• Do not assume a verbal promise changes a court deadline.
• Do not assume your online balance is the official payoff.
• Do not assume an investor can explain your servicing options.
• Do not stop opening mail because an application is pending.
• Do not send sensitive information to an unverified email address or caller.
• Do not agree to terms you have not received and reviewed in writing.

Which questions can Jim answer?

Jim can help with the real estate side:

• Approximate property value
• Property condition
• Marketability
• Likely buyer pool
• Possible equity using available figures
• As-is versus prepared listing
• Cash-offer comparison
• Possible selling paths

Jim cannot approve:

• A loan modification
• Forbearance
• Repayment plans
• Reinstatement terms
• Servicer decisions
• Legal defenses
• Court extensions
• Bankruptcy advice
• Credit or tax conclusions

Official sources

• CFPB: How to work with your mortgage servicer
• CFPB mortgage help
• CFPB Regulation X early intervention
• CFPB Regulation X loss mitigation
• CFPB mortgage information and notices of error
• CFPB repayment-plan explanation
• CFPB: If I can’t pay my mortgage loan, what are my options?
• HUD avoiding foreclosure: contact your lender
• HUD housing counseling